South Africa is a hub for new startups. Startups in the fields of agriculture, health, finance, and fintech are booming. Tech startups are soaring in places like Cape Town, with over 450 already recorded. These tech startups have managed to secure over £4.5 billion in funding. Many of these startups are bringing great benefits to South Africa and addressing pressing issues such as financial inclusion, cybersecurity, and environmental challenges.
Why Is South Africa A Popular Spot For Startups?
South Africa has a very diverse economy, with a well-educated workforce and strong entrepreneurial spirit. The vibrant market, diverse economy, connection to global markets, and supportive legal framework make South Africa a popular choice for startups.
The digital economy is poised to hit almost £140 billion, with Cape Town leading as the tech startup hub. Places like Cape Town have proven to be very popular spots for people to begin a startup.
The fintech sector is also particularly popular at the moment in South Africa. With digital innovation all around us, digital wallets are becoming more sophisticated.
South Africa is also fast becoming a technology hub in Africa.
What Are The 10 New Exciting Startups In South Africa?
South Africa is home to numerous promising startups. Here are 10 that are showing exceptional potential:
1. Agrigistics
Agrigistics is a 2019 startup that enhances farming productivity with smart tools like biometric workforce management and pest surveillance. This startup was designed for labour-intensive industries where time tracking and efficient payroll are critical.
This agricultural startup achieved 400% growth in 2021.
It is making waves due to its economic impact, with a 2.4% contribution to GDP and employing around 5% of formal employment—a significant impact on the South African economy.
The platform stands out with features such as labour tracking, resource management, pest surveillance, biometric integration, and payroll processing.
2. Itakane Health
Itakane Health is a prominent 2020 startup making a significant impact in the healthcare industry. They aim to revolutionise digital healthcare with the help of advanced AI and real-time monitoring.
The goal of Itakane Health is to identify potential health risks early through remote diagnostics, real-time risk assessments, and predictive analytics.
The company has already made a big impact, with a 30% drop in workplace-related injuries across 200 companies, and a 98% success rate in AI diagnostics.
With the African digital health industry projected to reach £7.7 billion in 2027, Itakane Health is set to make a major difference.
3. BATTALION Technologies
BATTALION Technologies is a tech startup founded in 2019 in KwaZulu-Natal, focusing on automation technology.
This startup is making major strides in cybersecurity by protecting against threats through cloud-based DNS-layer security solutions. DNS-layer security protects both the device and the network while identifying active threats.
The startup offers affordable and efficient services, benefiting small businesses in South Africa. They have also recently expanded into renewable energy operations.
With the global rise in cyber threats—including active threats within South Africa—this startup has positioned itself as a cutting-edge security solution.
4. Dark Pools
This startup was founded in 2021 in Pretoria and specialises in machine learning and AI software. Its main focus is on providing systems that process data in less than a second and detect financial crimes.
Key features of this startup include real-time anomaly detection, fraud prevention and risk reduction, customer behaviour analysis, process automation, and optimisation.
The startup raised £195,000 in 2021 and has since used these funds to become a well-established business helping other companies make smarter decisions.
5. PayCurve – Payroll innovation
This fintech startup was established in 2020 and is primarily an earned wage access platform.
The startup stands out due to its integration of AI into payroll systems. This system also gives employees early access to their wages, helping to alleviate financial burdens and reduce reliance on personal loans.
This reputable startup has seen a 24.8% drop in employee absenteeism, a 100% decrease in staff advance requests, and an average 20% reduction in employee turnover.
The integrated system can even analyse an employee’s financial health and connect them with financial coaches.
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6. Africa Slurry Pump Solutions
Africa Slurry Pump Solutions, founded in 2019 in Gauteng, specialises in slurry pumps and solutions for mining and mineral processing.
The startup is backed by individuals with over 60 years of experience in slurry pump technology. They tackle mining challenges through advanced engineering and integrated smart tech.
What makes their pumps unique is that their HART pumps are equipped with IoT (Internet of Things) features that enable real-time performance tracking and predictive maintenance.
The company provides a wide range of services, from process audits to improving slurry management.
7. Homefarm
This proudly South African startup was established in 2017 and specialises in indoor farming and equipment.
It aligns well with sustainable living, helping individuals and businesses grow fresh produce indoors. Their fully automated indoor farms and “farming-as-a-service” model make it possible for anyone to grow their own fresh produce indoors.
The startup raised approximately £70,000 in a seed round, and these funds will help scale the business. The company is also aiming to expand internationally, as many countries could benefit from indoor, year-round produce.
8. TUNL
TUNL, founded in 2022, is a parcel shipping platform for e-commerce merchants.
Its mission is to make global exports more affordable for South African businesses. They aim to prevent businesses from being held back by expensive shipping costs.
TUNL is already offering shipping rates up to 50% lower than popular express shipping companies.
As export costs continue to rise, this affordable logistics solution is poised to become a leader in South African parcel shipping.
9. Cabonsure
Carbonsure is a startup founded in 2024 in Sandton. It specialises in blockchain and AI technology to revolutionise the carbon credit insurance industry.
The startup provides tailored insurance to individuals, buyers, and sellers by analysing carbon offset data and assessing project risks.
With climate tech gaining momentum and major investments flowing into similar sectors, this startup has positioned itself to be part of the global shift towards sustainable technology.
10. CompariSure
This financial services provider was established in 2017 in Cape Town. They recently secured a multi-million-pound investment through a minority stake from UW Ventures.
The startup delivers financial services through chatbots on platforms such as Facebook and WhatsApp.
Since 2017, CompariSure has engaged with over 1 million users. What sets them apart is that nearly 70% of their sales are concluded without human interaction—even outside of working hours.
They have also started licensing their chatbot technology to other insurance providers to enhance digital capabilities in the industry.
